Swarovski plans a new strategy in which it will double in size worldwide over the next 7 years, with the USA a major focus of that growth. Swarovski will advance in the US on three fronts: expanded retail distribution, new products targeting younger consumers & a rebranding campaign. "The US is a strategically important market & we want to maximize the opportunity here", said Jim Ricci, vp-marketing. Ricci said Swarovski, run by a fifth generation of family members, is developing a product line for teens & young adults. Growth will come primarily through Swarovski's own stores (79 in N America & 225 worldwide). The store network is expanding at 30/pa. Products also are distributed via department stores/independent retailers. An autumn corporate rebranding campaign for the US will include print & outdoor, via Select Communications, New York. A separate campaign will promote consumer products including Swarovski jewelry, rings & handbags, which represent more than 50% of sales, said Ricci. The rest comes from home decor & collectible products, & sales of crystal components to other manufacturers. The media buy, to be finalized, will include long-standing Swarovski outlets such as Elle, Harper's Bazaar, InStyle & Vogue, & design-focused titles. The spend for the rebranding campaign was not disclosed, but will be larger than in previous years, said Ricci. Swarovski spent US$8M on media in 2005, per Nielsen-Monitor Plus.
